Polish inflation at 8.2% in September: stats office

Inflation in Poland stood at 8.2 percent in year-on-year terms in September, the country’s statistics office said on Friday.

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The reading was in line with a flash estimate released by the state-run Statistics Poland (GUS) agency at the end of last month.

We wrześniu 2023 r. #ceny towarów i usług konsumpcyjnych wzrosły w porównaniu do września 2022 r. o 8,2% (wskaźnik cen 108,2), a w stosunku do sierpnia 2023 r. obniżyły się o 0,4% (wskaźnik cen 99,6).https://t.co/8kNA70aYeH#GUS #statystyki pic.twitter.com/1WAe8LdZEP

— GUS (@GUS_STAT) October 13, 2023

In August, the prices of consumer goods and services in Poland were 10.1 percent higher than in the same month a year earlier, according to the state-run Statistics Poland (GUS) agency.

In July, Poland's consumer price index stood at 10.8 percent.

Poland’s central bank chief, Adam Glapiński, has predicted that the Polish economy will avoid a recession in 2023 and that inflation will drop to the single digits by the end of the year.

Inflacja we wrześniu spadła. GUS potwierdził wstępne dane na poziomie 8,2 proc. rok do roku https://t.co/QhSJBsXjzq

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) October 13, 2023

The Polish central bank said in its latest Inflation Report, released on July 10, that inflation would average at 11.9 percent this year, followed by 5.2 percent in 2024 and 3.6 percent in 2025.

The bank’s rate-setting Monetary Policy Council last week trimmed key interest rates by a further 25 basis points, amid signs of subsiding inflation.

The panel last month cut key interest rates by 75 basis points, in the first change to the country's interest rate regime in a year.

(gs)

Source: PAP